Li Shufu, founder and chairman of Geely Automobile, will step down as chief executive of the Chinese automaker on Aug. 18 as part of a broader leadership restructuring. He will remain chairman of parent company Zhejiang Geely Holding Group and become honorary chairman for life of Geely Automobile. An Conghui, a long-standing Geely executive and CEO of Zeekr, will become chairman, while Jerry Gan will take over as CEO.
The leadership transition comes as China’s electric vehicle market faces weaker demand and Geely increasingly relies on exports to support growth.
Geely Reshapes Its Senior Leadership
An Conghui will succeed Li Shufu as chairman of Geely Automobile. He has been part of Geely’s senior leadership for years and is widely associated with the group’s electric vehicle operations through his role as CEO of Zeekr.
The restructuring will also see Gui Shengyue move from CEO to vice chairman, replacing Li Donghui. Jerry Gan will become the company’s new CEO and will be responsible for managing operations and supporting the execution of Geely’s longer-term strategic objectives.
Li Shufu’s move away from the executive role at Geely Automobile does not mark his departure from the wider group. He will continue to lead Zhejiang Geely Holding Group, where he remains a controlling shareholder of Geely Automobile.
Domestic EV Demand Remains Under Pressure
The leadership changes take place against a challenging backdrop for China’s EV industry. Domestic demand has declined for several months, increasing the importance of international markets for Chinese automakers seeking additional sources of growth.
Geely’s latest quarterly results nevertheless showed continued financial improvement. Revenue increased 15% year on year, while gross profit rose 26%, resulting in record revenue for the company.
Exports have become a particularly important contributor to Geely’s expansion as the company operates in a highly competitive Chinese automotive market.
Li Shufu Retains Influence Over Geely Group
Although Li Shufu is leaving his executive position at Geely Automobile, his role within Zhejiang Geely Holding Group keeps him at the center of the broader business.
The parent group has interests in international automotive brands including Volvo and Smart. Li Shufu also holds a stake in Mercedes-Benz through investment company Tenaciou3.
The source article said the Mercedes-Benz investment is unaffected by the changes at Geely Automobile.
Exports Become a Key Growth Driver
Geely’s increasing reliance on overseas sales highlights the changing dynamics facing Chinese EV manufacturers. With domestic competition and demand creating pressure, exports are providing an increasingly important route for growth.
The new leadership structure places An Conghui and Jerry Gan in senior operating roles at Geely Automobile while Li Shufu retains strategic control through Zhejiang Geely Holding Group. The transition comes as the company seeks to maintain growth while navigating changing conditions in China’s EV market.
